6.24.19 Your morning briefing
The information you need to start your day, from PaymentsSource and around the Web:
To catch a thief
Walmart has deployed an artificial intelligence system to determine theft at the point of sale by identifying and analyzing unusual activity such as items moving into a bag without being scanned.
The chain has deployed the technology in more than 1,000 stores and monitors both self-checkout and human cashier stations, reports The Verge, adding the technology includes cameras, AI and other technology. Walmart claims improvements in halting shoplifting, but did not provide data.
Walmart, which is testing a variety of retail innovations at labs in New York and Texas, received a patent in late 2018 for "listening technology" that's designed to determine if people are taking more than they paid for based on the sounds of shopping bags.
More time...for some
The European Banking Authority will allow some firms to get an extension on the Sept. 14 deadline for strong consumer authentication (SCA) for e-commerce transactions under PSD2.
The extensions will be contingent on the stakeholders having a migration plan in place and a short timeframe for execution.
Google + PayPal
Google and PayPal are extending their existing collaboration to include PayPal integration for online merchants that accept Google Pay.
Merchants can make a code change to the allowed payment methods to switch on PayPal, reports TechCrunch.
The added integration will remove navigation for consumers who won't have to sign in to PayPal when using it as an option in Google Pay. The merchant also receives funds from payments in a few minutes, according to TechCrunch.
Canadian financial services cooperative Desjardins has suffered a breach that exposed the personal information of 2.9 million members, including names, birth dates, Canada's version of Social Security numbers, and details about users' personal banking habits.
Desjardins says the breach was carried out of a former employee, and it did not know about the incident until police contacted Desjardins in June.
While the compromised information can indirectly lead to payment and account fraud downstream, Desjardins said no card information, passwords, PINs or security questions were compromised.
More blockchain at Facebook
Facebook is continuing to hire blockchain professionals as it develops its Libra cryptocurrency in conjunction with investors.
The social network is hiring a finance program manager to focus on cross-border projects, reports CoinDesk, adding Facebook has more than two dozen blockchain-related job openings.
Facebook has been adding to its blockchain staff for much of the past two years, including an acquihire of blockchain payment experts from U.K. fintech Chainspace.
From the Web
Cartier, Bulgari and other luxury brands are flocking to WeChat
TechCrunch | Mon June 24, 2019 - Not long ago, people in China would need to visit a posh, stylish mall for luxury shopping. That’s rapidly changing as high-end brands race to embrace digital channels, which aren’t just the obvious options of ecommerce platforms or brand-owned sites.
Bitcoin climbs above US$11,000 after Facebook's Libra announcement
The Straits Times | Mon June 24, 2019 - Bitcoin traded above US$11,000 for the first time in 15 months, recouping more than half of the parabolic increase that captured the attention of mainstream investors before the cryptocurrency bubble burst last year.
Facebook's Libra cryptocurrency 'poses risks to global banking'
The Guardian | Sun June 23, 2019 - Facebook’s plan to operate its own digital currency poses risks to the international banking system that should trigger a speedy response from global policymakers, according to the organization that represents the world’s central banks.
More from PaymentsSource
As Libra regulatory storm gathers, a Mastercard exec preaches calm
Libra has only been public for a few days, but it has been enough time for regulators around the world to savage the project and schedule hearings.
Did Facebook swipe its Calibra logo from a challenger bank?
Facebook is under fire for the logo of its recently unveiled cryptocurrency unit, which bears striking similarities to one used by a challenger bank.
Loyalty fraud wave sparks security tech collaboration
Hackers are flocking to loyalty and rewards programs, pushing marketers to embed extra fraud technology to stem financial losses.
U.K. fraudsters seek to export their tactics to the U.S.
In the U.K., next-level fraud types — involving technologies such as push payments and P2P — are gaining traction now that EMV has been in place for more than a decade.